What Is the First Step in Developing a Retail Strategy

question 23

Multiple Choice

What is the first step in developing a retail strategy?

• A)define the target market
• B)set up a sales team
• C)build a franchise network
• D)decide on the product offerings

Examine the concepts of multiculturalism and cultural omnivorism within Canadian society and globally.

Understand different research methodologies and their appropriate applications.

Differentiate between exploratory, explanatory, descriptive, and evaluation research.

Distinguish between deductive and inductive reasoning in research.

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Definitions:

Salesperson

An individual who sells goods or services to customers, often responsible for negotiating deals, understanding customer needs, and closing sales.

Traditional Salespeople

Sales professionals who employ conventional techniques, such as in-person meetings and cold calls, to engage with potential customers.

Legal and Ethical

Pertains to actions and decisions that comply with the law and moral standards, particularly in professional and business practices.

Long-Term Relationships

Enduring connections between individuals or entities that are built over time, often characterized by trust, loyalty, and mutual benefits.